Mauritian firm seals P150m Letlole la Rona equity deal

Done deal: Shenjere-Mutiswa says Grit will be LLR's partner of choice in Botswana and into Africa
Done deal: Shenjere-Mutiswa says Grit will be LLR's partner of choice in Botswana and into Africa

Mauritian real estate group, Grit Real Estate has snapped up 23.7% of the Botswana Development Corporation’s (BDC) shares in Letlole la Rona (LLR), in a deal worth US$13.8 million (P150.3 million).

The deal means Grit now holds 30% equity in Letlole, up from 6.25 percent, while the BDC is down to 42% from 65.8%.

The purchase consideration for the deal is not cash, but rather the issuance of new Grit shares to the BDC at US$1.40 per share. The deal could give the BDC what is possibly its first offshore equity, a strategic direction the Corporation has been pushing for sometime.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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